Which of the following terms is used to describe a situation in which the government finances public goods that are underproduced because non-payers cannot be excluded from enjoying the goods? a.) Externality failure b.) Asymmetric failure c.) Government failure d.) Market failure

Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter17: Externalities And The Environment
Section: Chapter Questions
Problem 10PAE
Question
Which of the following terms is used to describe a situation in which the government finances public
goods that are underproduced because non-payers cannot be excluded from enjoying the goods? a.)
Externality failure b.) Asymmetric failure c.) Government failure d.) Market failure
Transcribed Image Text:Which of the following terms is used to describe a situation in which the government finances public goods that are underproduced because non-payers cannot be excluded from enjoying the goods? a.) Externality failure b.) Asymmetric failure c.) Government failure d.) Market failure
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